The Carlyle Group and Cypress Equities To Develop Retail
Center In Prime San Francisco District
DALLAS - Global alternative asset manager The Carlyle
Group (Carlyle) and real estate developer Cypress
Equities companies* (Cypress) today announced they will
develop a 250,000-square-foot, multi-level retail center
at 935 to 965 Market Street in the acclaimed shopping
district of San Francisco. The 1-acre site, formerly
known as CityPlace, will be rebranded Market Street
Place. The project is fully entitled, groundbreaking is
slated for the fall of 2012 and the grand opening is
scheduled for the first quarter of 2015.
The six-level urban redevelopment project, located on the
south side of Market Street between 5th and 6th, will
feature an exterior facade of translucent glass that
captures fragmented images of the streetscape while
providing a peek into the shopping experience inside. The
building will offer retailers exceptional street presence
with up to 270 feet of frontage, as well as ceiling
heights up to 18 feet and large floor plates of up to
45,000 square feet.
"Cypress is proud to have the opportunity to develop
another vibrant retail destination that will surely
attract more shoppers to the Mid-Market Street corridor,"
said Chris Maguire, CEO of Cypress Equities. "With
the development of Market Street Place, we look forward
to further enhancing the appearance of the neighborhood
and the streetscape west of Fifth Street."
Cypress will develop the project and Carlyle is the lead
equity partner. In the past, Cypress and Carlyle have
partnered on 24 different real estate deals as well as
mixed-use and large-scale retail projects within the
United States - most recently, West 7th in Fort Worth,
Texas, and Village at Leesburg in Leesburg, Virginia.
"This desirable location just steps from public
transportation provides destination retail options for
shoppers in the heart of San Francisco. We are pleased to
again team with Cypress Equities, which has a successful
track record in retail development and project
management," said Paul Brady, Managing Director at The
SRS Real Estate Partners will serve as the retail leasing
representative for Market Street Place.
About The Carlyle Group
The Carlyle Group is a global alternative asset manager
with $159 billion of assets under management in 94 active
funds and 63 fund of funds vehicles as of March 31, 2012.
Carlyle invests across four segments - Corporate Private
Equity, Real Assets, Global Market Strategies and Fund of
Funds Solutions - in Africa, Asia, Australia, Europe, the
Middle East, North America and South America. Carlyle has
developed expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare,
industrial, technology & business services,
telecommunications & media and transportation. The
Carlyle Group employs more than 1,300 people in 32
offices across six continents. www.carlyle.com.
About Cypress Equities
The Cypress Equities brand was first conceived in 1995
and launched as a suite of companies serving as
development affiliates of The Staubach Company. The
portfolio grew quickly, and the Cypress Equities brand
established its own national reputation synonymous with
the premier development, operation and management of
destination-class retail and mixed-use properties
throughout the U.S. Its portfolio of projects
primarily consists of commercial development, investment
and sale-leaseback transactions, including more than 10
million square feet of retail, office, residential and
automotive real estate. Today, there are six Cypress
Equities offices throughout the U.S., including Dallas
(headquarters), New York, San Francisco, Chicago, Atlanta
and Fort Lauderdale. Visit www.cypressequities.com
for more information.
* The Cypress Equities name, logo and other marks are
trademarks and service marks being licensed to
independent operating companies by CE Brands, LLC. Any
particular obligation, service or product is the sole
responsibility of the specific entity that incurs such
obligation or supplies such service or product.